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  • Canada's central bank held its key lending rate at a record low of 0.25 percent on Wednesday, after three cuts totalling 150 basis points over the past three weeks. In a statement, the Bank of Canada forecast an eventual "protracted and uneven" global recovery following "a sudden and deep contraction" due to efforts to contain the COVID-19 pandemic. In Canada, economic activity decreased by one to three percent in the first three months of the year and was forecast to drop 15 to 30 percent in the second quarter, when inflation was expected to drop to near zero. amc/jm
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  • Bank of Canada holds key lending rate at 0.25% after recent cuts amc/ec
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